Elite Group Inc. (fka ELTZ)

[Monte_Cristo]

Yes, agreed. But there will almost certainly be conditions precedent that have to be fulfilled by both buyer and seller prior to the acquisition taking place. Look at ELTZ's Pirate acquisition for example, where Pirate was touted as having approx. $6.5M in yearly revenue. They came to an agreement months ago (finalizing the acquisition) and yet they're still trying to figure out the final deal as ELTZ only tried to acquire Pirate's share capital and are now considering acquiring Pirate's assets as well. In the meantime, read the 10-Q and see the convertible notes used to finance the Pirate acquisition thus far - and there's been no actual acquisition just yet. My guess is that Red Diamond Resources is more of the same hype. They throw in a reference to master service agreements valued at $4.5M and people just see the $4.5M figure and get excited. You have to read into it a lot more than that. It's best to just trade this stock on the excitement, but don't hold for too long. Just my opinion though.